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As filed with the Securities and Exchange Commission on July 1, 1998
Registration No. 333-
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form S-8
REGISTRATION STATEMENT
Under
THE SECURITIES ACT OF 1933
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HOUSEHOLD INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
Delaware 36-3121988
(State of Incorporation) (I.R.S. Employer Identification No.)
2700 Sanders Road, Prospect Heights, Illinois 60070
(Address of principal executive offices) (Zip Code)
BENEFICIAL EMPLOYEE STOCK PURCHASE PLAN
(Full title of the Plan)
----------------------------
PATRICK D. SCHWARTZ, ESQ.
Associate General Counsel and Assistant Secretary
Household International, Inc.
2700 Sanders Road, Prospect Heights, Illinois 60070
(847) 564-6301
(Name, address and telephone number of agent for service)
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CALCULATION OF REGISTRATION FEE
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Title of Proposed Proposed
Securities Amount Maximum Maximum Amount of
to be to be Offering Price Aggregate Registration
Registered Registered Per Share (1) Offering Price (1) Fee
Common Stock,
Par Value 994,654
$1 per Share shares Not Applicable $49,608,368.25 $14,635
(1) The proposed maximum aggregate offering price and the amount of the
registration fee are estimated pursuant to rule 457(h) based upon the
average of the high and low prices ($49.875) reported for the Common
Stock on the New York Stock Exchange Composite Tape on June 24, 1998.
This Registration Statement shall hereafter become effective in accordance
with the provision of Section 8(a) of the
Securities Act of 1933
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PART II
INFORMATION REQUIRED IN THE
REGISTRATION STATEMENT
Item 3. Incorporation of Documents by Reference
The following documents filed with the Securities and Exchange Commission (the
"Commission") are incorporated herein by reference:
(a) Household's latest annual report filed pursuant to Section
13(a) or 15(d) of the Securities Exchange Act of 1934 or the latest
prospectus filed pursuant to Rule 424(b) under the Securities Act of
1933, which contains, either directly or by incorporation by reference,
audited financial statements for Household's latest fiscal year for
which such statements have been filed.
(b) All other reports filed pursuant to Section 13(a) or 15(d) of
the Securities Exchange Act of 1934 since the end of the fiscal year
covered by the annual report or the prospectus incorporated pursuant to
(a) above.
(c) The description of the Common Stock offered herein which is
contained in any registration statements filed under Section 12 of the
Securities Exchange Act of 1934, including any amendments or reports
filed for the purpose of updating such description.
All documents subsequently filed by Household pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended,
prior to the filing of a post-effective amendment which indicates that all
securities offered hereby have been sold or which deregisters all securities
remaining unsold, shall be deemed to be incorporated by reference herein and
to be a part hereof from the date of the filing of such reports and documents.
Item 5. Interests of Named Experts and Counsel.
The validity of the shares of Common Stock offered hereby will be
passed upon for Household by John W. Blenke, Vice President-Corporate Law and
Assistant Secretary for the Company. Mr. Blenke is a full-time employee and
an officer of Household and owns and holds options to purchase shares of the
Common Stock of Household.
The financial statements of Household and its subsidiaries
incorporated by reference in this Registration Statement to the extent and
for the periods indicated in its reports, have been audited by Arthur
Andersen LLP, independent public accountants, and are incorporated herein
by reference in reliance upon the authority of said firm as experts in
giving said reports.
Item 7. Indemnification of Directors and Officers.
The General Corporation Law of Delaware (Section 102) allows a
corporation to eliminate the personal liability of directors of a corporation
to the corporation or to any of its stockholders for monetary damage for a
breach of his/her fiduciary duty as a director, except in the case where the
director breached his/her duty of loyalty, failed to act in good faith,
engaged in intentional misconduct or knowingly violated a law, authorized
the payment of a dividend or approved a stock repurchase in violation of
Delaware corporate law or obtained an improper personal benefit. The
Restated Certificate of Incorporation, as amended, of Household International,
Inc. (the "Company"), contains a provision which eliminated directors'
personal liability as set forth above.
The General corporation Law of Delaware (Section 145) gives Delaware
corporations broad powers to indemnify their present and former directors and
officers and those of affiliated corporations against expenses incurred in the
defense of any lawsuit to which they are made parties by reason of being or
having been such directors of officers, subject to specified conditions and
exclusions; gives a director or officer who successfully defends an action the
right to be so indemnified; and authorizes the Company to buy directors' and
officers' liability insurance. Such indemnification is not exclusive of any
other right to which those indemnified may be entitled under any bylaw,
agreement, bote of stockholders or otherwise.
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Household's Restated Certificate of Incorporation, a amended,
provides for indemnification to the fullest extent as expressly authorized by
Section 145 of the General Corporation Law of Delaware for directors, officers
and employees of Household and also to persons who are serving at the request
of Household as directors, officers or employees of other corporations
(including subsidiaries). This right of indemnification is not exclusive
of any other right which any person may acquire under any statute, bylaw,
agreement, contract, vote of stockholders or otherwise.
Household has purchased liability policies which indemnify its
officers and directors against loss arising from claims by reason of their
legal liability for acts as officers, subject to limitations and conditions
as set forth in the policies.
Item 8. Exhibits.
4.1 Beneficial Corporation Employees' Stock Purchase Plan, as amended
(incorporated by reference to Exhibit 4.3 of Beneficial
Corporation's Form S-8 filed on April 23, 1996, File No. 333-02737).
5 Opinion of John W. Blenke, Vice President-Corporate Law and
Assistant Secretary of Household International, Inc.
23.1 Consent of John W. Blenke, Vice President-Corporate Law and
Assistant Secretary of Household International, Inc. is contained
in his opinion filed as Exhibit 5 hereto.
23.2 Consent of Arthur Andersen LLP, Certified Public Accountants
24 Power of Attorney is set forth on page II-5 of this Registration
Statement.
Item 9. Undertakings.
A. Undertaking to Update Annually.
Household hereby undertakes that, for purposes of determining any
liability under the Securities Act of 1933, each filing of Household's annual
report pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of
1934 that is incorporated by reference in the Registration Statement shall
be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be
deemed to be the initial bona fide offering thereof.
B. Continuous Offering.
Household hereby undertakes:
(1) To file, during any period in which offers or sales are being
made of the securities registered hereby, a post-effective amendment to
this Registration Statement:
(i) To include any prospectus required by Section 10(a)(3) of
the Securities Act of 1933;
(ii) To reflect in the Prospectus any facts or events arising
after the effective date of the Registration Statement (or the most
recent post-effective amendment thereof) which, individually or in
the aggregate, represent a fundamental change in the information set
forth in this Registration Statement. Notwithstanding the foregoing,
any increase or decrease in volume of securities offered (if the
total dollar value of securities offered would not exceed that which
was registered) and any deviation from the low or high end of the
estimated maximum offering range may be reflected in the form of
prospectus filed with the Commission pursuant to Rule 424(b)
(Section 230.424(b) of this chapter) if, in the aggregate, the
changes in volume and price represent no more than a 20% change
in the maximum aggregate offering price set forth in the
"Calculation of Registration Fee" table in the effective registration
statement;
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(iii) To include any material information with respect to the
plan of distribution not previously disclosed in this Registration
Statement or any material change to such information in this
Registration Statement; provided, however, that the undertakings set
forth in paragraphs (i) and (ii) above do not apply if the information
required to be included in a post-effective amendment by those
paragraphs is contained in periodic reports filed by the Registrant
pursuant to section 13 or section 15(d) of the Securities Exchange
Act of 1934 that are incorporated by reference in this Registration
Statement.
(2) That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed
to be a new registration statement relating to the securities offered
herein, and the offering of such securities at that time shall be deemed
to be the initial bona fide offering thereof.
(3) To remove from registration by means of a post-effective
amendment any of the securities being registered which remain unsold at
the termination of the offering.
(4) That for purposes of determining any liability under the
Securities Act of 1933, each filing of Household's annual report pursuant
to section 13(a) or section 15(d) of the Securities Exchange Act of 1934
that is incorporated by reference in this Registration Statement shall
be deemed to be a new registration statement relating to the securities
offered herein, and the offering of such securities at that time shall
be deemed to be the initial bona fide offering thereof.
C. Indemnification.
Insofar as indemnification for liabilities arising under the
Securities Act of 1933 may be permitted to directors, officers and
controlling persons of Household pursuant to the foregoing provisions, or
otherwise, Household has been advised that in the opinion of the Securities
and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that
a claim for indemnification against such liabilities (other than the payment
by Household of expenses incurred or paid by a director, officer or
controlling person of Household in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling
person in connection with the Common Stock being registered, Household
will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the
question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of
such issue.
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SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the
Registrant certifies that it has reasonable grounds to believe that it
meets all of the requirements for filing on Form S-8 and duly caused this
Registration Statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in the City of Prospect Heights, and State of
Illinois, on the 1st day of July, 1998.
HOUSEHOLD INTERNATIONAL, INC.
By William F. Aldinger
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(William F. Aldinger)
Chairman and Chief
Executive Officer
Each person whose signature appears below constitutes and appoints
J. W. Blenke, L. S. Mattenson and P. D. Schwartz and each or any of them
(with full power to act alone), and his/her true and lawful attorney-in-fact
and agent, with full power of substitution and resubstitution, for him/her
in his/her name, place and stead, in any and all capacities, to sign and
file with the Securities and Exchange Commission, any an all amendments
(including post-effective amendments) to the Registration Statement,
granting unto each such attorney-in-fact and agent full power and authority
to do and perform each and every act and thing requisite and necessary to
be done, as fully to all intents and purposes as he/she might or could do
in person, hereby ratifying and confirming all that such attorney-in-fact
and agent or their substitutes may lawfully do or cause to be done by
virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below by the following persons in
the capacities indicated and on the 1st day of July, 1998.
Signature Title
William F. Aldinger Chairman, Chief Executive Officer
- ------------------------------ and Director (as Principal Executive
(William F. Aldinger) Officer)
Robert C. Clark Director
- ------------------------------
(Robert C. Clark)
Robert J. Darnall Director
- ------------------------------
(Robert J. Darnall)
Gary G. Dillon Director
- ------------------------------
(Gary G. Dillon)
John A. Edwardson Director
- ------------------------------
(John A. Edwardson)
Mary J. Evans Director
- ------------------------------
(Mary J. Evans)
James H. Gilliam, Jr. Director
- ------------------------------
(James H. Gilliam, Jr.)
Dudley Fishburn Director
- ------------------------------
(Dudley Fishburn)
Cyrus F. Freidheim, Jr. Director
- ------------------------------
(Cyrus F. Freidheim, Jr.)
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Louis E. Levy Director
- ------------------------------
(Louis E. Levy)
George A. Lorch Director
- ------------------------------
(George A. Lorch)
John D. Nichols Director
- ------------------------------
(John D. Nichols)
James B. Pitblado Director
- ------------------------------
(James B. Pitblado)
S. Jay Stewart Director
- ------------------------------
(S. Jay Stewart)
Louis W. Sullivan, M.D. Director
- ------------------------------
(Louis W. Sullivan, M.D.)
David A. Schoenholz Executive Vice President-Chief
- ------------------------------ Financial Officer (as Principal
(David A. Schoenholz) Accounting and Financial Officer)
David J. Farris Director
- ------------------------------
(David J. Farris)
u:\law\corp\bene\espps8.as1
July 1, 1998 Exhibits 5 and 23.1
Household International, Inc.
2700 Sanders Road
Prospect Heights, Illinois 60070
RE: Beneficial Employee Stock Purchase Plan--Registration
Statement on Form S-8
Ladies and Gentlemen:
As Vice President-Corporate Law and Assistant Secretary of
Household International, Inc. (the "Company"), I am generally
familiar with the proceedings in connection with the Company's
Registration Statement on Form S-8 in which shares of the Company's
Common Stock ($1.00 par value per share) offered pursuant to the
Company's assumption of the Beneficial Corporation Employees' Stock
Purchase Plan (renamed the Beneficial Employee Stock Purchase Plan,
referred to herein as the "Plan") are being registered under the
Securities Act of 1933, as amended (the "Act"). In accordance with
the foregoing, I have examined such corporate records,
certificates, public documents and other documents, and have
reviewed such questions of law, as considered necessary or
appropriate for the purpose of this opinion.
Upon the basis of such examination, it is my opinion that:
1. The Company has been duly incorporated and is an existing
corporation in good standing under the laws of the State of
Delaware.
2. The shares of Common Stock have been duly authorized by the
Company, and when (i) the registration statement on Form S-8
by the Company with respect to the shares of Common Stock (the
"Registration Statement") shall have been filed with the
Securities and Exchange Commission under the Act and (ii)
shares of the Company's Common Stock are distributed pursuant
to the Plan, such shares will be validly issued, fully paid
and non-assessable.
I hereby consent to the filing of this opinion as an exhibit to the
Registration Statement. In giving said consent, I do not admit that
I am in the category of persons whose consent is required under
Section 7 of the Act or the rules and regulations of the Securities
and Exchange Commission thereunder.
Very truly yours,
John W. Blenke
JWB:kr
Exhibit 23.2
CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS
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Household International, Inc.:
As independent public accountants, we hereby consent to the
incorporation by reference in this registration statement on Form
S-8 relating to the registration of shares of Household
International, Inc. common stock to be issued under the Beneficial
Employee Stock Purchase Plan to be filed with the Securities and
Exchange Commission on or about July 1, 1998, of our report dated
January 21, 1998, included in Household International, Inc.'s Form
10-K for the year ended December 31, 1997, and to all references to
our Firm included in this registration statement.
/s/ Arthur Andersen LLP
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Chicago, Illinois,
July 1, 1998
